Hsbc Holdings PLC raised its holdings in W. R. Berkley Corp (NYSE:WRB) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,585 shares of the insurance provider’s stock after buying an additional 3,049 shares during the period. Hsbc Holdings PLC owned about 0.06% of W. R. Berkley worth $5,402,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of WRB. Janus Henderson Group PLC raised its stake in W. R. Berkley by 182.1% in the second quarter. Janus Henderson Group PLC now owns 3,349,020 shares of the insurance provider’s stock valued at $242,502,000 after buying an additional 2,162,031 shares in the last quarter. Atlanta Capital Management Co. L L C raised its stake in W. R. Berkley by 30.1% in the third quarter. Atlanta Capital Management Co. L L C now owns 7,872,276 shares of the insurance provider’s stock valued at $629,231,000 after buying an additional 1,821,020 shares in the last quarter. Millennium Management LLC raised its stake in W. R. Berkley by 649.0% in the second quarter. Millennium Management LLC now owns 450,061 shares of the insurance provider’s stock valued at $32,589,000 after buying an additional 389,971 shares in the last quarter. BlackRock Inc. raised its stake in W. R. Berkley by 2.3% in the third quarter. BlackRock Inc. now owns 10,716,398 shares of the insurance provider’s stock valued at $856,561,000 after buying an additional 236,781 shares in the last quarter. Finally, Scout Investments Inc. raised its stake in W. R. Berkley by 53.7% in the third quarter. Scout Investments Inc. now owns 497,458 shares of the insurance provider’s stock valued at $39,762,000 after buying an additional 173,888 shares in the last quarter. Institutional investors own 71.03% of the company’s stock.
Separately, Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Thursday, September 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.50.
Shares of WRB stock opened at $75.73 on Friday. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 2.16 and a beta of 0.85. W. R. Berkley Corp has a 1 year low of $67.12 and a 1 year high of $80.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.
W. R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Tuesday, October 23rd. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.28. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. W. R. Berkley had a return on equity of 9.03% and a net margin of 8.64%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share. Analysts predict that W. R. Berkley Corp will post 3.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 28th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 27th. W. R. Berkley’s payout ratio is 24.39%.
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W. R. Berkley Company Profile
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
Further Reading: Investing in Growth Stocks
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